The first 5,000-metric-ton high-performance neodymium-iron-boron magnetic material project of Jinlong Rare Earth New Materials (Baotou) Co has been put into operation.

Jinlong Rare Earth Co has funded the project with a total investment of 2 billion yuan ($279.03 million). It covers an area of 200 mu (13.33 hectares) and has an annual output value of about 4 billion yuan.

The first phase of the project will invest 460 million yuan, focusing on the construction of a production line with an annual output of 5,000 tons of rare earth permanent magnet materials. The subsequent construction of a 15,000-ton production line is expected to be operational by the end of 2027.

This project adheres to the national direction of high-end, green, and intelligent development. Its core indicators, such as efficiency, cost, energy consumption, and environmental protection, all reached an advanced industry level.

The rare earth permanent magnet materials produced by this project will be widely used in modern high-end wind power generation, energy-saving home appliances, and new energy vehicles.